Question 1

What's the best bank for digital nomads?

Accepted Answer

Wise is the default primary account for digital nomads worldwide. It gives you a multi-currency account that holds 50+ currencies, free ATM withdrawals up to a monthly cap, and conversions at the mid-market rate (just a small fixed spread). Pair it with Revolut as a backup card with virtual one-time card numbers, and — if you're a US citizen — Charles Schwab Bank Investor Checking, which refunds every foreign ATM fee worldwide. That three-card stack covers 95% of nomad banking needs in every country we cover.

Question 2

Do Wise and Revolut work in every country?

Accepted Answer

Wise transfers and card spending work in every country we've documented. Revolut accepts customers from over 50 countries and works as a spending card everywhere Visa is accepted. The exceptions are typically sanctioned countries (Cuba, Iran, North Korea) and a small number of countries with capital controls. Each country page below explains any specific local quirks — for example, Indonesia's IDR-denominated direct transfers, or Mauritius's USD circulating alongside the Rupee.

Question 3

Should I open a local bank account when nomading?

Accepted Answer

Only if you're planning to stay 6+ months in one country, or if you need to invoice local clients, rent long-term, or qualify for local services (a gym membership, a SIM contract). For most nomads on tourist allowances or short-term residence permits, Wise plus a backup card fully replaces a local account. The country pages below note when a local account becomes useful and which banks are most foreigner-friendly.

Question 4

What ATM fees should I expect as a digital nomad?

Accepted Answer

Foreign-bank ATM fees vary by country and machine, but the typical range is $2–$5 per withdrawal in Europe and Asia, $3–$8 in the Caribbean and Africa. The bigger drag is your home bank's foreign-transaction fee (typically 1–3%) plus the conversion margin baked into the rate. Wise sidesteps both — you withdraw at the mid-market rate from your local-currency balance with a fixed small per-withdrawal fee above a monthly cap (typically USD 100). Charles Schwab refunds every ATM fee for US customers.

Banking for Digital Nomads by Country

Europe

Asia

North America

South America

Africa

Frequently asked questions

Wise + Revolut + Charles Schwab updates, monthly